Cryptocurrency day trading keeps young Indians engaged late at Night.

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At 7 pm consistently, techie Anish Gupta closes his organization PC and fires up his one. The 27-year-old coder transforms into a crypto trader, taking advantage late into the night in the highly volatile market.

Sometimes, my monthly pay from day to day cryptocurrency exchange is more than my salary. So said Gupta, who works for an IT outsourcing firm in Gurgaon.

Gupta, who primarily trades in Bitcoin, Ethereum and Tron, is a growing tribe of small investors who have taken to crypto to make quick money related gains and supplement their livelihoods.

With cryptocurrencies, for example, Bitcoin, Ethereum, Doge, Shiba Inu and Solana touching all-time highs, the number of traders has additionally developed dramatically, said market watchers. 

Top exchanges have recorded a 200-500% jump in the number of day traders who bring money just by taking positions in various crypto resources.

On the whole, there are around 105 million Indians who hold crypto assets, and the quantity of dealers is somewhat more than 1 million, as per trades.

We have an everyday trader base of more than 80,000 Indian high-frequency traders, which used to be around 20,000-25,000 during the bull run of 2017-2018. Day trader investors generally incline towards high-volatility assets, alongside new and forthcoming projects with wild movements that they attempt to profit by, said Shivam Thakral, CEO, BuyUcoin, a cryptocurrency trade.

Cryptocurrency exchange CoinSwitch Kuber said the average monthly trade volume has zoomed as trading grows.

Most Started Investing During Lockdown

Another trade, Wazir X, boasts 10 million users. It saw overall volume touch $36 billion in 2021.

WazirX has seen a standard 44% growth month on month in terms of volume, while the new signups have expanded multiple times, a representative said.

Most Indians began investing in digital forms of money during the lockdown when organizations moved to work from home, drawn by great returns despite inherent volatility and impacted by the high-voltage ad campaign run by the very much supported crypto trades.

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